'Jobless Generation'

Policymakers need to do more about the unemployment problem:

Jobless generation puts brakes on US, by Shannon Bond, FT: ...The share of American 18- to 24-year-olds who were employed fell to 54 per cent last year, the lowest since the labor department began tracking data in 1948, according to the Pew Research Center. The share who are in college has risen, but the researchers say this only partly explains the drop. The jobless rate for Americans age 16 to 24 is above 16 per cent, more than twice the national rate.

Youth unemployment has reached crisis levels around the world, with almost 13 per cent of the global youth labor force out of work this year... But the problem has a unique flavor in the US, where the weak job market has collided with record levels of educational debt – about $25,000 for the average graduate. Together, they pose a threat to the future earning power of young Americans ... and could have long-lasting effects on US growth. ...